Perhaps China is accumulating too much foreign exchange reserves.
More Quotes from Masahiro Kawai:
We have a plan to create several indexes, but we want to make these indexes as attractive as possible to the market.Masahiro Kawai
The individual exchange rates won't be supported officially...but if this index is relatively stable vis-a-vis external currencies then it's quite useful.
Masahiro Kawai
The market is still growing. But the growth rate in 2005 moderated a little bit from the previous year's growth.
Masahiro Kawai
Allowing a little more currency appreciation can be quite desirable for the sake of the Chinese economy and the region as a whole. The Chinese economy is quite resilient. At the same time, foreign exchange reserves are rising fast.
Masahiro Kawai
Bond markets are deepening worldwide, but emerging East Asia is moving ahead at a faster rate.
Masahiro Kawai
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